Wahaca debt write-off

WAHACA, the restaurant chain, has secured a deal with its lenders to write off around £25m of debt.

Shareholders and lenders will inject £ 5m into the Mexican-themed chain, cofounded by Masterchef winner thomasina Miers, to keep it afloat.

wahaca had announced ten of its 28 sites would be closing, blaming higher rental costs. Bankers Natwest are reportedly writing off £13m, or around 60pc, of its loans.

Shareholders will give up the £12m they are owed.

restaurants were given a brief boost in August by the Government’s eat out to Help out scheme.

But they are set to be battered by the new lockdown restrictions and curfew.